Yes, the word 'submitting' is a gerund, the present participle of a verb that can function as a noun in a sentence.
The present participle of the verb (to submit) also functions as an adjective.
Examples:
We will be submitting a bid for that contract. (verb)
Submitting may change the nature of your relationship. (noun, subject of the sentence)
Our submitting writers are paid when we publish an article. (adjective)